Polestar's Financial Challenges and New Developments in 2023

Polestar faced significant financial difficulties in 2023, reporting a decrease in revenue and an increase in losses, which contributed to a 3.1% drop in its stock price to 80 cents, marking a 63% decline year-to-date Despite these challenges, the company initiated deliveries of its first Polestar 3 electric SUVs, hoping that the introduction of the single-motor Polestar 3 with improved range and affordability might revitalize its market position.